Legal Aberdeen SD
Legal systems are made up of laws and regulations that govern people in a given jurisdiction and are enforced by institutions at both the state and federal levels. Some of the larger categories of law are international law, constitutional law, criminal law, contract law, tort law, property law and equity and trusts. There are many other, more specific legal disciplines that apply to society, commerce and regualtion like family law, intellectual property law and tax law, respectively. Attorneys usually specialize in one type of law and represent legal cases before a court, sometimes defending and sometimes prosecuting in the case.
Corporate law is the law that governs corporations and is part of the broader category of companies law, which applies to all types of businesses, like partnerships and trusts. But corporate law is more specific and applies to how shareholders, directors, employees and other stakeholders interact with each other and the company. The law deals with firms that are incorporated and display the characteristics of a corporation, which are separate legal personality of the corporation, limited liability of the shareholders, transferable shares, delegated management, and investor ownership. The last characteristic is not uniformly accepted, but for the most part companies that fit these descriptions are subject to corporate law.